SEOUL, 07 Jan. (Yonhap) – The Seoul Stock Exchange made another jump on Thursday to close above the 3,000 point mark for the first time, supported by strong purchases by foreign and institutional investors triggered by hopes of stimulus in states -United. The Korean won fell against the dollar.
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The Korea Composite Stock Price Index (Kospi), the benchmark index, rose 63.47 points, or 2.14%, to close at 3,031.68.
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The deal volume was very high, at around 1.5 billion shares with an aggregate value of around 26.8 trillion won ($ 24.6 billion), with the winners (617) outnumbering the losers ( 220).
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Institutions bought 1,000 billion won of shares, while individuals sold a net worth of 1,200 billion won. Foreigners posted a positive balance of 109 billion won.
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The Kospi rose strongly in the morning after a break in the previous session due to profit taking.
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Stocks continued to gain traction as expectations that the U.S. political paradigm shift could help boost spending to stimulate the world’s largest economy and benefit its trading partners and financial industries.
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Samsung Electronics rose 0.85% to 82,900 won, and the world’s second-largest chip maker SK hynix jumped 2.67% to a record 134,500 won.
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Major chemicals company LG Chem climbed 8.09 percent to 962,000 won, its all-time high. Rechargeable battery maker Samsung SDI posted a gain of 2.65%, also refreshing its record at the close of 298,000 won.
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Pharmaceutical company Samsung Biologics gained 0.24% to 819,000 won and Celltrion rose 1.13% to 357,500 won.
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The local currency traded at 1,087.3 won against the US dollar, a devaluation of 1.7 won from the previous session.
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